Lo-Lo's Used Multiple SBA 504 Loans to Expand his Business

Celebrating Soul Food and The American Dream

Here’s a small business success story that will make you smile. Meet Larry White, Jr., aka Lo-Lo, the owner of Lo-Lo’s Chicken and Waffles.  

As soon as Lo-Lo could walk and talk, he was put to work bussing tables in his grandmother’s soul food restaurant, Mrs. White’s Golden Rule Café.  

The food, the people, the atmosphere…it was contagious, and it wasn’t long before Lo-Lo would start experimenting with his recipes.

In 1975 Roscoe’s House of Chicken and Waffles opened in Los Angeles and quickly became a food sensation on the west coast. Lo-Lo often visited Los Angeles and Roscoe’s.  

Once back in Phoenix, Lo-Lo was craving chicken and waffles, so he started cooking the dish for family and friends.  But, of course, they loved it and wanted more!  

Lo-Lo realized he wanted to bring chicken and waffles to Phoenix.  He smartly managed his risk by using his grandmother’s restaurant as a place to test his concept.  

Because Mrs. White’s Golden Rule Café was closed on weekends, his grandma agreed he could use it during weekend evenings, and that is how Late Night Lo-Lo’s Chicken and Waffles began and took off like a rocket!

From a New Solo Restaurant to Gaining Famous Fans Across The Country

By 2002, Lo-Lowas ready for his restaurant.  His first restaurant location was 1,000 sq. ft., and quickly turned Phoenix, AZ into an unlikely destination for authentic soul food. With food that good, it took no time for lines to form around the block. 

Before Lo-Lo knew it he had celebrity fans, including Charles Barkley, the Phoenix Suns, Shaq and Muhammad Ali. He also soon began catering events for the Arizona Cardinals, Snoop Dogg, Allen Iverson, Amare Stoudemire, the Pittsburgh Steelers, the Oregon Ducks and Chicago Cubs players. The restaurant has also been featured on TNT’s “Inside the NBA.”

Hard Work Pays Off

Not bad for a guy who used to greet guests, run back to cook the food, and then don the chicken outfit and distribute flyers out front.  

When asked about his success Larry says “hard work pays off.”  As a dedicated chef and savvy business owner Larry was just as smart about growing his business as he was about refining his authentic mouth-watering menu.  

As he realized he had the opportunity to grow his company he learned about business financing options and was able to obtain SBA 504 loans to support his vision for growth and success.

How Is Lo-Lo’s Doing Today?

Eventually, one restaurant expanded to a downtown Phoenix location, then Scottsdale and Gilbert, then the PHX airport…and now, Lo-Lo’s is spreading downright deliciousness across the country with franchise opportunities.

What Has Stayed The Same?

The untouched recipes that Lo-Lo created in the back of his grandmother’s restaurant all those years ago and the devotion of Larry, his wife Rasheedah and their team to delivering scratch-made soul food wherever they go!  

What else has been consistent? Making smart and strategic business decisions every step of the way.

How Was Larry Able to Finance His Growth?

With people licking their chops for Lo-Lo’s Chicken and Waffles, it made sense to give them more, so Larry has worked with CDC Small Business Finance on multiple SBA 504 loans.  

Most recently he secured an SBA 504 loan for $2 million to build his fifth restaurant which also created 120 new jobs.  He now employs over 200 people in all his restaurants. Way to go Larry!

Growing Your Business? Considering Expanding or Buying a Commercial Property?

CDC Small Business Finance’s loan experts can work with you just like they worked with Lo-Lo to help you secure a small business loan to support your growth and success.

Did You Know?

A business owner can get more than one SBA 504 loan.  There are several requirements including that any previous SBA loan is in good standing or paid off.  Connect with a SBA 504 loan expert to learn more.

Let’s talk: loaninfo@cdcloans.com or 1.800. 611.5170

Learn more about the SBA 504 Loan